menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Fundamental Accounting Principles Study Set 7
  4. Exam
    Exam 2: Analyzing and Recording Transactions
  5. Question
    Because They Decrease Equity, Withdrawals Made by a Business Owner
Solved

Because They Decrease Equity, Withdrawals Made by a Business Owner

Question 59

Question 59

True/False

Because they decrease equity, withdrawals made by a business owner are credited tohis/her withdrawals account.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q27: If a company sells products and receives

Q33: The normal balance of an account refers

Q56: Zen Hatha opened a Yoga Studio and

Q57: Step Two of the accounting cycle requires

Q58: A credit entry<br>A)Increases asset and expense accounts,

Q60: An account used to record the owner's

Q61: Of the following accounts, the one that

Q77: List the steps in the accounting cycle.

Q88: All increases and decreases in cash are

Q107: Discuss the use of the trial balance.

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines